What is the main role of the Canada Mortgage and Housing Corporation?

The primary role of the Canada Mortgage and Housing Corporation (CMHC) is to administer the National Housing Act. This act is a key piece of legislation in Canada that aims to promote the development of sufficient and affordable housing for all Canadians. CMHC plays a vital role in facilitating housing initiatives, providing mortgage insurance to protect lenders and borrowers in the home-buying process, and conducting research on housing trends and issues. By administering the National Housing Act, CMHC supports various programs and policies designed to improve housing conditions and accessibility throughout the country.

While the corporation does indeed oversee aspects of mortgage insurance and may be involved in financial assistance programs for tenants, these activities are part of a broader mandate that stems from the National Housing Act. The regulation of housing prices is not a primary function of CMHC; instead, its focus is on ensuring adequate housing options and resources for individuals and families across Canada.